Premium Bonds Question

jaceyboy

Im taking out my full Premium Bonds in August after the draw to try new things like fixed rates, does anyone know if I have to wait a few days after the 2nd to get the money out or can request to withdraw on the 2nd? obviously I want to see if I win and dont want to take before that.

Doctor_Who

Try this:

https://www.nsandi.com/help/manage-your-savings/make-withdrawal-from-savings#payment-timeline-calculator

jaceyboy

Doctor_Who said:

Try this:

https://www.nsandi.com/help/manage-your-savings/make-withdrawal-from-savings#payment-timeline-calculator

Thanks but I am not asking when I will receive the funds, I am saying I want to withdraw but dont want to effect my August draw, so can I remove on 2nd or wait until 3rd?

eskbanker

You can notify them now that you wish to withdraw them as soon as the next draw has been made, i.e. they take care of the calculation for you.

Edit: maybe not literally now!

You can request in advance that we cash in your Premium Bonds after the next draw. If so, you’ll be able to change or cancel your request until the day before the last two working days of the month. 

Otherwise you cannot stop or change an instruction to cash in. 

• If you apply to cash in your Premium Bonds in the last two working days of a month, we’ll usually delay the cashing in so your Premium Bonds are entered into the next month’s draw. We do this to allow us to finalise the numbers of eligible Bonds for the draw.

jaceyboy

eskbanker said:

You can notify them now that you wish to withdraw them as soon as the next draw has been made, i.e. they take care of the calculation for you.

Ah great thanks

Doctor_Who

I think the draw is done on the 1st of August, so withdraw on the 2nd.

https://investingreviews.co.uk/blog/premium-bonds-prize-dates-uk/

jaceyboy

Doctor_Who said:

I think the draw is done on the 1st of August, so withdraw on the 2nd.

https://investingreviews.co.uk/blog/premium-bonds-prize-dates-uk/

Yeah its a weird one, they do the draw on the 1st but you dont find out until the 2nd if you've won, so I guess can pull them out on the 2nd

eskbanker

Doctor_Who said:

I think the draw is done on the 1st of August, so withdraw on the 2nd.

https://investingreviews.co.uk/blog/premium-bonds-prize-dates-uk/

Yes, elsewhere within the customer agreement document that I quoted from, it clarifies that:

Once a Premium Bond is eligible for draws, it will take part in each month’s draw provided you still hold the Bond on the first day of the month.

dieselglider

I've scheduled a cash in for after the August draw, pretty sure it said withdrawal on the 3rd.

jaceyboy

eskbanker said:

Doctor_Who said:

I think the draw is done on the 1st of August, so withdraw on the 2nd.

https://investingreviews.co.uk/blog/premium-bonds-prize-dates-uk/

Yes, elsewhere within the customer agreement document that I quoted from, it clarifies that:

Once a Premium Bond is eligible for draws, it will take part in each month’s draw provided you still hold the Bond on the first day of the month.

Perfect thanks

TadleyBaggie

jaceyboy said:

Yeah its a weird one, they do the draw on the 1st but you dont find out until the 2nd if you've won, so I guess can pull them out on the 2nd

Technically you can find out on the same day as the draw, if you check just after 23:30.